Global Residential Insulation

Report Overview

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This study analyzes global demand for global residential insulation by market and material.

Insulation markets covered in this report are:

• new single-family
• single-family retrofit
• new multifamily
• multifamily retrofit

Scope and Summary

Insulation materials covered in this report are:

• foamed plastic
• fiberglass
• mineral wool
• other materials (e.g., cellulose, reflective insulation)

Historical data (2009, 2014, and 2019) and forecasts for 2024 and 2029 are presented for global residential demand in US dollars, metric tons, and in square meters R-1 value.

Going forward, demand for residential insulation products will be driven by:

• increasingly stringent energy efficiency and fire safety policies throughout the world, which often call for greater use of insulation in homes
• advances in global housing starts and average housing sizes
• rising awareness of insulation’s role in energy efficiency, boosting homeowner interest in undertaking retrofit projects
• gains in the quality of the global housing stock as construction practices improve and call for more insulation usage
• increasingly stringent building codes throughout the world, which are more often calling for increased insulation usage
• rising use of continuous insulation – or air barriers – to prevent air leaks

The COVID-19 pandemic will restrict 2020 demand in the residential market, as economic declines have taken a toll on residential building construction. However, demand is expect to return to growth in 2021 as economies rebound, leading to gains through 2024.

Virtual Stagnation in Most Developed New Residential Construction Markets

Although new residential building construction is expected to be limited in most developed countries, residential construction overall will be sustained by solid growth in improvement and repair activities. For example, in the US, consumers have been engaging in more home improvement projects while spending more time home, helping to sustain residential insulation demand.

Multifamily & European Insulation Markets to Decline Through 2024

Through 2024, demand for residential insulation in both Western and Eastern Europe is forecast to decline in volume terms, as weak housing markets have been exacerbated by the COVID-19 pandemic. Additionally, a downward trend in housing sizes in some countries will result in less building area for insulation products.

Given current economic uncertainty due to the pandemic, many large multifamily housing development projects have been either delayed or canceled. Multifamily housing accounts for a large share of all home construction in both regions, so these disruptions will have an outsized effect on insulation demand in residential markets. Additionally, smaller unit sizes in many large multifamily construction markets will restrict demand for insulation through 2024.